Li Na set a record for Asian players by rising to a career-high Number 2 in the WTA rankings, while compatriot Peng Shuai ensured another first for China by ascending to the top ranking in the doubles.
Li won the Australian Open last month for her second Grand Slam singles title and started 2014 with a 13-match winning streak, including victory at her season-opening event at Shenzhen.
"As they have done throughout their careers, both players continue to set new milestones for Chinese tennis," WTA chief executive Stacey Allaster said.
"Their accomplishments are truly inspirational.''
The 32-year-old Li, who sits behind only Serena Williams in the women's rankings, says she hopes she is setting a platform for the next generation of Chinese players. Previous world number two, Victoria Azarenka, has slipped to fourth while former Wimbledon champion Maria Sharapova stays fifth.
WTA Top 10